This advanced steering mirror design combines large angular travel with high bandwidth dynamic response and high accuracy. The benefits for space-based interferometry include more commonality between mechanisms, reduced spares inventory, lower procurement costs, and reduced risk. These devices are used for alignment and fine-steering functions in the coherent combination of light from several collectors to independent combiner optics. Since this design can be used for alignment and fine-steering functions, a reduced number of component designs are required for interferometric missions. In some cases functions can be combined into a reduced number of mechanisms. The steering mirror design achieves this with a simplified electromagnetic actuator configuration having no iron other than the magnets in the magnetic path. Other benefits of the simplified design include: a compact steering mirror envelope that is only slightly larger than the mirror itself, simplified fabrication and assembly, and reduced power consumption. This paper includes the application, requirements and configuration along with performance analyses and verification test data. Analytical models for force, power, thermal, magnetic, dynamic and mass properties as well as various figures of merit are described.